The NFL approved financing on a $1.4 billion stadium that will keep the Bills in Buffalo for the next 30 years
At the NFL’s spring meeting in Florida on Monday, the league approved financing on the loan and project plans for a new stadium for the Bills, paving the way for a project expected to cost $1.4 billion.
Team owners Terry and Kim Pegula expressed gratitude for the approval in a statement, while acknowledging there were still “more hurdles to clear before getting to the finish line.” Erie County Executive Mark Poloncarz said the new stadium will be built on the land adjoining the current stadium,. The new contract between the team and Erie County Stadium Corp. will keep the Bills in Buffalo for the next 30 years.
The stadium will be financed by $850 million in taxpayer money, with construction said to create “over 10,000 jobs.” New York governor Kathy Hochul said the goal of the negotiations was to ensure the team remained in Buffalo, and addressed the public funding of such a substantial project.
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